Property values soar for Detroit's Black homeowners, study shows

[marmar]

(Detroit Metro Times) Detroit’s economic recovery from its 2014 bankruptcy has resulted in nearly $3 billion in real estate wealth, a boon to the city’s Black and Latino homeowners, according to a new study from the University of Michigan.

Released Tuesday by the University of Michigan Poverty Solutions, the report, titled “The Growth of Housing Wealth in Detroit and its Neighborhoods: 2014-2022,” found that the largely Black homeowners in Detroit amassed $2.8 billion in added home value between 2014 and 2022, an 80% increase.

Mayor Mike Duggan credited the gains to a number of city-run beautification and blight-fighting programs, as well as the Detroiters who stuck it out and invested in their communities. .....................(more)

https://www.metrotimes.com/news/property-values-soar-for-detroits-black-homeowners-study-shows-36034713

[Old Crank]

1. That is good news

Next will be complaints about gentrification.

Good to see that the market has turned around.